价值管理在企业人力资源管理中的一个应用

价值管理是目前管理界比较关注的管理思想和方法,它是在价值工程的基础上形成和发展起来的,以企业价值最大化为目标。人力资源既是企业价值体系的构成部分,又可以创造价值,具有特殊性,理所当然地是基于价值的管理。将功能价值评价技术运用于职位分析,为人力资源提供了一种量化应用方法。     

我国房地产投资基金的发展研究

首先揭示我国发展房地产投资基金(REITs)的意义所在,然后深入分析我国在发展REITs过程中所遇到的问题和障碍,并提出若干政策和建议。     

武汉市"十一五"科技计划体系与战略重点研究

阐明了现代科技发展的趋势,分析了武汉市科技发展的环境条件,在此基础上设计了武汉市科技计划体系,以及确保计划有效实施的战略重点。     

我国企业分销渠道国际化的问题与对策

分销渠道国际化是我国企业国际化进程的首要环节。利用中间商、自建渠道、与跨国企业合作是国际分销渠道的基本模式。我国企业在国际分销渠道运营方面存在着过度依赖中间商、渠道建设贪大求全、渠道模式单一、渠道模式陈旧和信息化程度低等问题。构建国际分销渠道必须在综合考虑多种影响因素的基础上,周密计划、全方位展开,并要顺应时代发展趋势。     

可信安全体系在金融企业云架构建设中的应用研究

本文针对大型金融行业从业单位近年来不断增长的云化市场进行安全体系研究,通过归纳分析行业内云端建设存在的隐患,借鉴互联网行业的主流技术方案和技术事实标准,提出一套针对金融场景云端建设端到端的安全体系,在满足国家和行业监管部门要求的同时,为大型金融行业从业单位筑牢安全边界提供更加有效的理论借鉴.     

Venture capital trusts and the expiration of IPO lock-up provisions

Venture capital trusts (VCTs) were introduced to provide private equity capital for small expanding companies and to promote innovation. Investors in initial public offerings are rewarded with tax relief on the cost of lock-up provisions to stabilize the market. This paper examines the market reaction and trading activity around the expiration of lock-up provisions of 148 VCTs listed on the London Stock Exchange from 1995 to 2006. Downward-sloping demand curve theory suggests that an increased supply of VCT shares at the expiry date could shift their value to a new equilibrium at a lower price. Supporting this prediction, we document evidence of negative abnormal returns as well as permanent increases in the price discount relative to net asset value and trading volumes at and around the expiries of the required holding periods of VCTs. In addition, less negative abnormal returns, lower abnormal discounts and lower abnormal trading volumes are associated with VCTs that invest in AIM-listed companies due to lower information asymmetry, that experience lower prior performance due to a less pronounced disposition effect, and that are subject to a shorter lock-up horizon or are offering more generous tax benefits.     

商业银行的操作风险、声誉效应与市场反应

我们通过比较银行市场价值损失与发生操作风险造成的损失的差异来分离出纯声誉效应,并实证分析了该声誉效应对不同银行及损失事件不同阶段的市场收益率的影响的差异。研究发现,操作风险事件在不同时期会产生迥异的市场反应。在披露期,银行遭受损失时会出现显著为负的异常收益率,在结算期却出现显著为正的异常收益率,而在承认期,该效应却并没有表现出一定的规律性;且上述声誉效应造成市场收益率的动态变化在不同类型的银行差异明显。这也启示我们,声誉效应的存在使银行有必要对操作风险造成的损失进行有效控制以及适时回应事件中的不确定信息。这将有助于减少银行的损失及保持市场的稳定。     

Corporate Lobbying and Firm Performance

Corporate lobbying activities are designed to influence legislators, regulators and courts, presumably to encourage favorable policies and/or outcomes. In dollar terms, corporate lobbying expenditures are typically one or even two orders of magnitude larger than spending by Political Action Committees (PAC), and, unlike PAC donations, lobbying amounts are direct corporate expenditures. We use data made available by the Lobbying Disclosure Act of 1995 to examine this more pervasive form of corporate political activity. We find that, on average, lobbying is positively related to accounting and market measures of financial performance. These results are robust across a number of empirical specifications. We also report market performance evidence using a portfolio approach. We find that portfolios of firms with the highest lobbying intensities significantly outperform their benchmarks in the three years following portfolio formation.     

关于“钓鱼执法”问题的法律思考

＂钓鱼执法＂事件引发了社会各界的广泛关注。这种非理性执法行为不仅有损法律的尊严和政府公信力,还存在着极大的道德风险。我们应在深入剖析具体事件根源的基础上,从立法、财政体制、教育等层面探讨制度上的应对方法。     

智慧通古今思想达天下——五句《论语》经典的本意解读和现实意义

儒家思想是中国传统思想的核心资源。2007年9月28日，在山东曲阜举行的祭孔大典上揭晓了“国人不可不知的五句《论语》经典”，这五句《论语》经典分别是“有朋自远方来，不亦乐乎”“四海之内皆兄弟也”“己所不欲，勿施于人”“德不孤，必有邻”和“礼之用，和为贵”。深刻领悟这些思想，对于我们构建社会主义和谐社会以及建设和谐世界都具有重要的现实意义。